How to protect exchanged secrets in the fair exchange protocol with off-line TTP

The most efficient approach to a fair exchange is to use an off-line trusted third party (TTP for short) who gets involved only when a dispute between two parties occurs. However, exchanged secrets that are not protected properly may be exposed to the TTP when one of these two parties asks the TTP to mediate the dispute. The first work to protect exchanged secrets from TTP's misuse was proposed by Franklin and Reiter in 1997. They provided an on-line semi-trusted third party instead of an off-line third party for a fair exchange. Their schemes forced the TTP to take part in the protocol for all the cases, and thus, deemed to be impractical. The present paper, introduces several models, including single and multiple TTPs, to focus the attention not only on security properties, but also on reliability functions. In the single TTP mode, our new scheme can protect the exchanged data through an efficient exchange protocol, whereas in the multiple TTP mode, we proposed an approach to balance the security level with the reliability of the system. (c) 2006 Elsevier Ltd. All rights reserved.